FBS - Analytics

    FBS

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    GBP/NZD falling inside intermediate impulse wave (3)

    GBP/NZD recently broke sharply through the support zone lying between the support trendline of the extended daily down channel from last September and the two support levels: 2.000 (which stopped the earlier intermediate impulse wave (1) in the middle of June, as can be seen below), 1.9500 and 1.9000. The breakout of this support zone greatly accelerated the active intermediate impulse wave (3).

    GBP/NZD is likely to fall further to the next sell target at the support level 1.8200 (forecast price calculated for the termination of the active impulse wave (3)). Strong resistance now stands at 1.9500 and 1.9000.


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